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Webinar: Bridging the Gap Between Forecasting Theory and Practice

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By Topics | Analytics

We seem to be in the height of webinar season, so please add one more to your calendar, brought to you by SAS, CT Global Solutions, and the International Institute of Forecasters:

event announcemnet

I'll be delivering a short introduction, covering the disappointing state of real life business forecasting in contrast to the potential shown in forecasting research and the M competitions. And then George Habek of CT Global Solutions will illustrate the use machine learning and traditional time series forecasting methods in SAS.

The live event is Tuesday, December 15 at 2:00pm EST (19:00 GMT). Registration is free.

About the webinar:

It has long been recognized that the real-life practice of forecasting falls well short of the potential exhibited in academic research and forecasting competitions. In 2018’s M4 competition, a simple benchmark combination method reduced error by 17.9% compared to a naïve (“no change”) forecast. The top six performing methods in M4 further reduced error by over 5% compared to the benchmark. But in forecasting practice, just bettering the accuracy of a naïve forecast has proven to be a surprising challenge.

Join SAS and CT Global Solutions, in association with Foresight: The International Journal of Applied Forecasting, as they discuss reasons why forecasting practice falls short of theory, and ways to bridge the gap

Tags CT Global Solutions IIF M4 M5 SAS Forecasting
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About Author

Mike Gilliland

Product Marketing Manager

Michael Gilliland is a longtime business forecasting practitioner and formerly a Product Marketing Manager for SAS Forecasting. He is on the Board of Directors of the International Institute of Forecasters, and is Associate Editor of their practitioner journal Foresight: The International Journal of Applied Forecasting. Mike is author of The Business Forecasting Deal (Wiley, 2010) and former editor of the free e-book Forecasting with SAS: Special Collection (SAS Press, 2020). He is principal editor of Business Forecasting: Practical Problems and Solutions (Wiley, 2015) and Business Forecasting: The Emerging Role of Artificial Intelligence and Machine Learning (Wiley, 2021). In 2017 Mike received the Institute of Business Forecasting's Lifetime Achievement Award. In 2021 his paper "FVA: A Reality Check on Forecasting Practices" was inducted into the Foresight Hall of Fame. Mike initiated The Business Forecasting Deal blog in 2009 to help expose the seamy underbelly of forecasting practice, and to provide practical solutions to its most vexing problems.

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